Creditor Representation
Every business has receivables that are difficult to collect. Individuals and business customers often go through tough times that result in slow-paying their creditors or refusing to pay altogether due to insolvency. When collections issues arise, it is crucial to act fast, lest you lose any opportunity to collect. If your customer files bankruptcy, time can be of the essence to make sure your claims are properly presented to the court.
Strip, Hoppers, Leithart, McGrath & Terlecky doesn’t just represent insolvent debtor individuals and companies. Our firm also provides creditor representation prior to and during bankruptcy or other insolvency proceedings. Our attorneys frequently work to collect past-due amounts in a legal and ethical manner. We work hard to ensure that you can collect on what you are owed, while at the same time trying to keep collection costs to a minimum.
In bankruptcy and other insolvency proceedings such as receiverships, our firm can guide you through the claims and litigation process so you can recover what the law allows. We are skilled in the following areas:\
Proofs of Claim. We frequently file proofs of claim on behalf of creditors and defend the claims against any challenges.
Involuntary Bankruptcy. We have filed involuntary bankruptcies to protect creditor interests, preserve assets and facilitate sales.
Chapter 11 Plans. Where the debtor has failed to propose an adequate reorganization plan, we have prepared and proposed Chapter 11 plans on behalf of creditors.
Reclamation Claims. We have represented creditors in attempting to reclaim goods sold on credit to debtors on the eve of bankruptcy.
Contract Assumption. We have represented commercial real estate companies, manufacturers and suppliers in protecting their interests under leases and contracts with companies in bankruptcy.
Discharge Litigation. For debts that have been acquired through, among other examples, fraudulent conduct, we have assisted creditors in receiving orders disallowing the discharge of debt.
Avoidance Action and other Defense Work. We routinely file motions on behalf of creditors to force the appointment of a receiver for the assets of a debtor.
